This paper examines the distribution of the goods and services provided by the ocean, existing inequities and the resulting impacts on the environment, human health, and income distribution now and in the future. The paper outlines the tensions and trade-offs, and presents recommendations for addressing some of the underlying and systemic features of ocean inequities and how policy can support the transition to a sustainable and just ocean economy. The authors for this paper are: Henrik Österblom, Colette C.C. Wabnitz, Dire Tladi, Edward H. Allison, Sophie Arnaud Haond, Jan Bebbington, Nathan Bennett, Robert Blasiak, Wiebren J. Boonstra, Afrina Choudhury, Andrés Cisneros-Montemayor, Tim Daw, Michael Fabinyi, Nicole Franz, Harriet Harden-Davies, Danika Kleiber, Priscila Lopes, Cynthia McDougall, Budy P. Resosudarmo and Samiya A. Selim.On 6th March 2020, the paper was launched via a webinar ‘Towards Ocean Equity’, it was moderated by Expert Group Co-chair Jane Lubchenco and report authors Henrik Österblom, Colette, Wabnitz and contributing author Afrina Choudhury. President of Palau and Ocean Panel co-chair Tommy Remengesau Jr published ‘Ocean degradation falls heaviest on those least responsible’ in the Sydney Morning Herald. The WRI blog, ‘The Ocean Genome Helps Fight Disease: Here's How We Save It’, also connects the findings of the report to issues surrounding the Ocean Genome.